AN ESL QUIZ• Economics As A Second Language

1. What is the world’s population?

a. 1 billion

b. 3 billion

c. 6 billion

d. 9 billion

ECONOMICS AS A SECOND LANGUAGE

2. WHAT IS THE CURRENT POPULATION OF THE UNITED STATES?

A. 250M

B. 300M

C. 350M

D. 400M

3. What percentage of the U.S. population lives in poverty?

a. . 8%

b. 12%

c. 16 %

d. Poverty is a myth

4. WHAT IS THE CURRENT UNEMPLOYMENT RATE?

A. About 3.5%

B. About 5.5 %

C. About 7.5%D. EVERYONE WHO WANTS A JOB HAS

ONE

5. WHAT IS THE CURRENT INFLATION RATE?

A. 3%

B. 5%

C. 8%

D. I DON’T KNOW WHAT INFLATION IS

6. WHAT TYPE OF ECONOMIC SYSTEM DOES THE U.S. HAVE?

7. NAME A FAMOUS ECONOMIST. DEAD OR ALIVE.

8. The majority of businesses in America employ: a. 0-4 employees

b. 20-50 employeesc. 100- 150 employeesd. Over 200 employees

9. WHICH COUNTRY IS THE #1 IMPORTER IN THE WORLD?

10. WHICH COUNTRY IS THE #1 EXPORTER IN THE WORLD?

11. WHERE IN THE WORLD IS WALL ST?

12. WHAT WAS THE FIRST TOY ADVERTISED ON T.V.?

A. MR. POTATO HEAD

B. SLINKY

C. HULA HOOP

D. G.I. JOE

13. IN THE FINANCIAL WORLD, WHAT DOES IPO STAND FOR?

TRUE OR FALSE

14. THE MORE USEFUL A GOOD, THE HIGHER ITS PRICE.

15. MONEY IS OUR MOST IMPORTANT ECONOMIC RESOURCE.

16. Name the #1 oil producing nation in the world.

17. In 2006, the average weekly income for an adult with less than a high school education was:

a. $419 b. $619 c. $819

18. In 2006, on average, how much more did college graduates earn over those with a high school diploma only?

a. 30% b. 50% c. 70%19. What is the current size of our national debt?

a. 950 billion b. 3.5 trillion c. 9.5 trillion d. 15.5 trillion

20. Last year, what percent of U.S. consumed oil came from Persian Gulf countries?

a. Less than 15 percent

b. 16 to 30 percent

c. 31 to 45 percent

d. 46 to 60 percent

ANSWERS

1. ABOUT 6 billion (c) population

2. About 300 million (b)

3. B about 12%

4. A, about 4.5%

5. A about 3%

Economic system6. CAPITALISM MARKET SYSTEM FREE ENTERPRISE Name an economist

7. ADAM SMITH KARL AND GROUCHO MARX JOHN NASH JOHN KEYNES AL GREENSPAN Ben Bernanke Arnold Schwe (you know who I mean) Mick Jagger David Ricardo Ricky Ricardo

8. a. 0-4 employees (59%)

Import/export

9. THE U.S. , #1 Importer

10. Germany, #1 Exporter.

11. NEW YORK CITY (wall st)

12. MR. POTATO HEAD

13. INITIAL PUBLIC OFFERING GOOGLE WAS INITIALLY OFFERED

AT $80 OR SO IT IS CURRENTLY ….. HIGHER

14. FALSE

15. FALSE

16. Saudi Arabia

17.A. $419

18.C. 70%

bls.gov

19. 9.5 trillion

That’s $9,500,000,000,000

National Debt Clock

20. A less than 15%